State Economic Strength and Some Methodological Issues on Its Assessment
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State Economic Strength and Some Methodological Issues on Its Assessment Gwang‑Nam Rim1 · Sun‑Nam Jang2 · Chol‑Ju An2 · Sun‑Hui Hwang1 · Son‑Hui Ri3 Accepted: 27 July 2020 © Springer Nature B.V. 2020
Abstract At present, many international organizations and scholars, who are aimed to compare and assess country-specific economy or competitiveness, have set different standards and indicators and tried to assess the economic strength of individual country. But most of these standards and indicators are for the assessment of individual aspects and what is worse, they are not suitable for the real situation of the countries concerned. This paper deals with methodological issues on the assessment of state economic strength. To this end, authors investigate the preceding studies on the assessment of economy of a given country, conceptualize the state economic strength, set a new system of indicators for assessing it and on this basis, produce a methodology for the synthetic assessment of state economic strength. The findings are that state economic strength must be defined in a view of economic capability which any country can exhibit by itself even under uncertain external environment, the indicators for assessing it include a variety of indicators in line with its essence, and assessment methodology must be synthetic one based on considering the weights of indicators. These findings may help, on the one hand, in assessing the economy of a given country and taking an economic and technical measures for its strengthening for policymakers, and on the other hand, in comparing and assessing the country-specific economy for organizations or scholars in a new perspective. Keywords State economic strength (SES) · Economic structure · Economic strength assessment · Knowledge-based economy
1 Introduction Setting the targets for strengthening their economic strengths, today, all countries over the world are making every possible effort for its realization. The assessment of economic strength is aimed to analyze and assess its present situation, set up a promising plan to increase it to a higher level and take an economic and technical measures for its realization. However, it is seen that there have not been the unified view about what State Economic Strength (SES) is and how it is assessed in previous studies. In most cases, until now, * Gwang‑Nam Rim [email protected]; [email protected] Extended author information available on the last page of the article
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previous studies have been conducted focusing on assessing the economic size or competitiveness of a given country. And with the long-term history of economic development, different views have been raised on the indicators for assessing the economy of a country. In this regard, many international organizations and scholars, who are aimed to compare and assess country-specific economy or competitiveness, have set different standards and indicators and tried to assess using them. What is the typical among these is to emphas
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